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Momentum

XRP price analysis: In the past 24 hours, the price of XRP has risen by 3.3%, reaching $0.434 during European business hours on Tuesday. Despite this increase, the asset continues to face resistance at the $0.45 level, with current market conditions keeping it below this threshold. Investors might consider preparing to buy more XRP at potentially lower prices. 
<h2 id="span-style-font-weight-400-xrp-price-analysis-weak-bullish-momentum-hints-at-an-18-pullback-span">XRP Price Analysis: Weak Bullish Momentum Hints At An 18% Pullback</h2> 
<img decoding="async" class="aligncenter size-full wp-image-206586" src="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1.jpeg" alt="XRP PRICE" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-09-at-09.59.26-1-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px"> 
Following the recent <a href="https://coingape.com/markets/3-altcoins-to-buy-if-bitcoin-correction-extends-to-50000/">Bitcoin sell-off</a> that saw the entire crypto market enter panic mode, <a href="https://coingape.com/price/xrp">XRP price</a> broke out to the downside of a consolidation zone on July 4, crashing to a low of $0.382. The price of XRP quickly rebounded and stabilized around $0.43. Today, with Bitcoin’s price in the green, XRP has also mirrored this positive trend. 
The price action of XRP is trending below the 21-day, 50-day, and 200-day simple moving averages (SMAs). The 21-day SMA is the nearest overhead resistance for the XRP price, around $0.445. The XRP relative strength index (RSI 14) is trending near the oversold (OS) region at 38. If the XRP price moves lower the RSI may drop into the OS zone,&nbsp; typically characterized by high selling momentum. On a positive note, the RSI in the OS region presents a great opportunity to buy in as the market believes the asset is undervalued.&nbsp; 
The current price of XRP is in a precarious position as there is little to no support for this level in XRP’s price history. XRP price prediction shows the asset may rise by 7% to test the 21-day SMA as it attempts to break back into the previous range. If the bull succeeds, the XRP price may rise above the 50-day ($0.484) and 200-day ($0.531) SMAs to test the upper boundary of the range, around $0.545.&nbsp;&nbsp; 
On the flip side, if the bears prevail, XRP may drop 18% from the current price to hit a low of $0.34, which coincides with the next decent support level for the asset. Key support levels on the way down include $0.40 and $0.36. 
<h2 id="span-style-font-weight-400-court-reveals-a-date-that-could-impact-xrp-price-span">Court Reveals A Date that Could Impact XRP Price</h2> 
The court has scheduled a date for further motions and hearings on unresolved claims in the Ripple lawsuit. July 26 is a crucial day for Ripple’s legal motions and could influence the price of XRP. 
American lawyer Fred Rispoli predicts that July 31 may mark a significant turning point, potentially signaling the end of the Ripple lawsuit. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 When are you expecting the ruling to come in? I expected it around June 20, but apparently delayed again 
 — Crypto Moon Amsterdam <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/274c.png" alt="❌" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/274c.png" alt="❌" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/274c.png" alt="❌" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoAms020) <a href="https://twitter.com/CryptoAms020/status/1808252976403767629?ref_src=twsrc%5Etfw">July 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Rispoli also anticipates a penalty of no more than $25 million and no disgorgement. 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
XRP’s price potential decline to $0.35 may catch the attention of investors, as this level presents a potential buying opportunity. Market participants perceive this as a favorable entry point, anticipating a possible rebound from this support zone. 
The post <a href="https://coingape.com/markets/xrp-price-analysis-can-xrp-reach-1-before-july-end/">XRP Price Analysis: Can XRP Reach $1 Before July Ends?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price Analysis: Can XRP Reach $1 Before July Ends?

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